It's now official: the Federal Reserve Board will authorize an $85 BILLION loan to AIG.
Wow.
Things are really spiraling downward for our financial industry. The fact that the government has deemed it necessary to bail out a private company speaks volumes. And now, car makers Ford and GM are asking good ol' Uncle Sam for the same sort of treatment while they deal with "tougher fuel-efficiency regulations." Hey guys, what the hell were you thinking going the SUV gas-guzzling route? Talk about short-sightedness. Yes, there was demand but what about having vision? What about checking out what your competition is doing (ahem, the Prius?).
Hey, how about a bail out for me? My Amex card was declined at the pump this morning and I had to use my debit card. Ouch.
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